State of New Jersey Common Pension Fund D Has $2.56 Million Stake in Arvinas, Inc. (NASDAQ:ARVN)

Posted by MarketBeat News on Aug 2nd, 2022

State of New Jersey Common Pension Fund D increased its stake in shares of Arvinas, Inc. (NASDAQ:ARVN – Get Rating) by 12.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 38,014 shares of the company’s stock after acquiring an additional 4,191 shares during the period. State of New Jersey Common Pension Fund D owned 0.07% of Arvinas worth $2,558,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Nisa Investment Advisors LLC grew its holdings in Arvinas by 59.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,714 shares of the company’s stock valued at $194,000 after buying an additional 1,014 shares during the last quarter. Nordea Investment Management AB acquired a new stake in Arvinas in the 1st quarter valued at approximately $245,000. Versor Investments LP acquired a new stake in Arvinas in the 4th quarter valued at approximately $345,000. Profund Advisors LLC grew its holdings in Arvinas by 7.0% in the 4th quarter. Profund Advisors LLC now owns 4,303 shares of the company’s stock valued at $353,000 after buying an additional 282 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in Arvinas in the 4th quarter valued at approximately $381,000. Institutional investors and hedge funds own 84.52% of the company’s stock.

Arvinas Price Performance

Arvinas stock opened at $50.38 on Tuesday. The company has a market capitalization of $2.68 billion, a PE ratio of -12.08 and a beta of 2.00. Arvinas, Inc. has a one year low of $34.90 and a one year high of $103.53. The business has a 50 day simple moving average of $45.22 and a 200 day simple moving average of $57.03.

Arvinas (NASDAQ:ARVN – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.35). Arvinas had a negative return on equity of 29.38% and a negative net margin of 326.72%. The company had revenue of $24.20 million for the quarter, compared to the consensus estimate of $25.51 million. The business’s revenue was up 340.0% on a year-over-year basis. Equities analysts anticipate that Arvinas, Inc. will post -4.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Arvinas in a report on Tuesday, June 21st. They issued a “hold” rating and a $42.00 target price on the stock. Credit Suisse Group assumed coverage on Arvinas in a report on Thursday, April 28th. They issued an “outperform” rating and a $104.00 target price on the stock. Piper Sandler reduced their price objective on Arvinas from $116.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, May 23rd. Wedbush downgraded Arvinas from an “outperform” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research report on Monday, May 9th. Finally, Stifel Europe reduced their price objective on Arvinas from $85.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, May 5th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.38.

Arvinas Profile

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Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.